Friday, June 17, 2011

Amid weak demand and ample supplies, ADNOC sells 150,000 tons of July spot naphtha at lower premiums

Abu Dhabi National Oil Co (ADNOC) has sold 150,000 tons of July spot naphtha at sharply lower premiums as sentiment remained hurt by weak demand and high supplies, as per Reuters. Asian market sentimeent has been weaker as focus remains on the prolong shutdown of Formosa's cracker following a fire at a pipeline on May 12.

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